Below is an important company update from today in italics.
I suspect that the SP may suffer a bit more due to the poor timing of the announcement below. It is poor timing since it was announced in the middle of the CR, but there may be good reasons for the announcement. I still plan to buy more soon and hope that the resource estimate, which the company is promising by June, will help the SP bounce again.
“3 MAY 2018
MANAGEMENT CHANGES
Sayona Mining Limited (ASX: SYA) ("Sayona" or the "Company") announces that Mr Corey Nolan has tendered his resignation as Chief Executive Officer (“CEO”). Mr Nolan will continue in his role until the completion of the Definitive Feasibility Study (“DFS”) which is expected in June 2018.
Sayona intends to continue to strengthen its skill mix as it shifts its focus to construction and production at the Authier Lithium Project.
The Board would like to thank Mr Nolan for his contribution to the Company during his tenure as CEO which included the acquisition of Sayona’s flagship Authier Lithium Project in Canada. Following the current capital raising, the Company will be well- funded and positioned to become one of Canada’s next producers of lithium concentrates. We wish Mr Nolan all the very best in his future endeavours.
Mr Dan O’Neill will continue as the Managing Director of the Company. With the Board’s extensive experience in developing lithium projects, it will continue to advance the project while Corey transitions out of his role.
No replacement has been announced as yet, but the company is reviewing the most appropriate management structure going forward as the company enters the construction phase of the project, post the release of the DFS. Further announcements will be made in due course.”
